Financial Markets Regulation Directorate

Director of the DirectorateTzvetanka Mihaylova

Contact details:102 "G. S. Rakovski" Str.1040 Sofia, Bulgariae-mail:

Directorate's main task:

The Financial Markets Regulation Directorate supports the Minister of Finance in conducting the national policy in the area financial services and financial markets. The Directorate performs activities aimed at improving and harmonising the national legislation in the field of financial services and financial markets with the EU legislative framework.

Financial Markets Regulation Directorate:

prepares opinions and positions in the field of financial services and financial markets in connection with the participation of Bulgarian representatives in the preparatory bodies of the European Union, namely Council of the European Union (ECOFIN), Economic and Financial Committee and Financial Services Committee;

takes part in the negotiation process in the preparatory bodies of EU institutions involved in the drafting and implementation of EU law on financial services and financial markets, namely Working Party on Financial Services to the Council of the European Union, Financial Services Committee and working groups to the European Commission;

chairs and coordinates the activity of Working Group No 26 on Financial Services to the EU Affairs Council to the Council of Ministers;

prepares, coordinates and proposes for approval by the EU Affairs Council to the Council of Ministers drafts of BG framework positions on pieces of EU draft legislation or other EU documents addressed by the Council of the European Union and its preparatory bodies as well as within the decision-making process under Articles 290 and 291 of the Treaty on the Functioning of the European Union;

prepares studies and analyses of EU law as well as of the practices of other EU Member States in the area of financial services and financial markets;

prepares and coordinates drafts of legislative acts in the area of financial services and financial markets to be submitted to the Council of Ministers, including in connection with the improvement and harmonization of the Bulgarian legislation with EU law in this area;

acts as a Secretariat of the Consultative Council on Financial Stability by means of coordination and assistance for the performance of its tasks;

provides official opinions to requests by the European Commission related to the correct transposition and implementation of the EU law on financial services and financial markets, and prepares positions and documents in connection with the infringement procedures under Articles 258 - 260 of the Treaty on the Functioning of the European Union;

submits notifications in the electronic system of the European Commission of national legislative acts transposing EU Directives.